Insider Selling: BlackLine, Inc. (NASDAQ:BL) Insider Sells 300 Shares of Stock

BlackLine, Inc. (NASDAQ:BL - Get Free Report) insider Karole Morgan-Prager sold 300 shares of BlackLine stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $55.01, for a total transaction of $16,503.00. Following the transaction, the insider now directly owns 113,865 shares of the company's stock, valued at $6,263,713.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Karole Morgan-Prager also recently made the following trade(s):

• On Wednesday, October 2nd, Karole Morgan-Prager sold 5,773 shares of BlackLine stock. The stock was sold at an average price of $55.14, for a total value of $318,323.22.
• On Monday, September 30th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The stock was sold at an average price of $55.00, for a total value of $550,000.00.
• On Wednesday, August 7th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00.

BlackLine Stock Performance

Shares of BL traded down $0.52 during mid-day trading on Thursday, hitting $54.88. The stock had a trading volume of 328,688 shares, compared to its average volume of 914,318. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. The business has a fifty day moving average price of $50.82 and a 200-day moving average price of $52.48. The firm has a market cap of $3.39 billion, a P/E ratio of 238.61, a PEG ratio of 12.80 and a beta of 0.90.

BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.08. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The company had revenue of $160.51 million for the quarter, compared to analysts' expectations of $158.21 million. During the same period in the prior year, the company posted ($0.69) EPS. BlackLine's revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that BlackLine, Inc. will post 0.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BL. Truist Financial dropped their price target on BlackLine from $60.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, August 7th. BTIG Research cut their target price on BlackLine from $71.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. JMP Securities restated a "market outperform" rating and set a $81.00 price target on shares of BlackLine in a research note on Monday, July 15th. Piper Sandler lowered their price objective on shares of BlackLine from $55.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup reduced their price objective on shares of BlackLine from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, BlackLine presently has a consensus rating of "Hold" and an average target price of $59.90.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of BlackLine by 9.5% in the first quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company's stock worth $476,662,000 after purchasing an additional 642,772 shares during the last quarter. Hawk Ridge Capital Management LP increased its holdings in shares of BlackLine by 85.4% in the 4th quarter. Hawk Ridge Capital Management LP now owns 730,259 shares of the technology company's stock worth $45,597,000 after buying an additional 336,298 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of BlackLine by 65.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company's stock valued at $28,076,000 after buying an additional 229,151 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of BlackLine by 40.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 404,400 shares of the technology company's stock worth $22,299,000 after acquiring an additional 116,900 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in BlackLine in the second quarter worth $15,128,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.